Symantec's revenue jumps 16 percent

The maker of Norton antivirus said on Wednesday its net income rose to $1.34 billion or $2.01 per share in the third quarter ended Dec. 29 from $46 million or 7 cents per share, a year earlier.

The big jump in net income reflected a more than $600 million gain related to the sale of a business.

Revenue rose to $1.21 billion from $1.04 billion.

Demand for cyber-security products has remained strong following back-to-back security incidents such as the “WannaCry” malware that infected computers in more than 100 countries last year and data breaches at major companies. (Reporting by Arjun Panchadar and Shariq Khan in Bengaluru; Editing by Sai Sachin Ravikumar)